13D Filing: Jeffrey Alan Berg and Ntn Buzztime Inc (NYSEMKT:NTN)

Page 6 of 8 – SEC Filing

 

(a),
(b) & (d): Each Reporting Person’s beneficial ownership of the Stock on the date of this Amendment No. 9 is reflected
on that Reporting Person’s cover page of this Amendment No.9. The percentage of shares owned by the Reporting Persons is
based upon 2,483,892 shares of Stock outstanding, which is the number of shares outstanding immediately after the March 2017 Offering,
as reported in the Issuer’s filings with the SEC. BFK is a limited liability company and serves as the general partner of
the Fund with the power to invest in, vote and dispose of the Stock on behalf the Fund. The Fund has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of, the Stock. Only Mr. Berg as a limited partner
in the Fund individually has an interest through the Fund in more than 5% of the outstanding Stock. Mr. Berg is the Managing Member
of BFK and controls the investment decisions of BFK and the Fund. The Reporting Persons are filing the Schedule 13D jointly, but
not as members of a group, and each of them expressly disclaims membership in a group. Each of BFK and Mr. Berg disclaims beneficial
ownership of the Stock except to the extent of that Reporting Person’s pecuniary interest therein. In addition, the filing
of the Schedule 13D on behalf of the Fund should not be construed as an admission that any of the other Reporting Persons is,
and each of them disclaims that it is, the beneficial owner, as defined in Rule 13d-3 under the Securities Exchange Act of 1934,
of any of the Stock covered by the Schedule 13D.

 

Paragraph
(c) of Item 5 of the Schedule 13D is hereby amended by the addition of the following:

 

(c)
The following sets forth all transactions with respect to Shares effected by the Reporting Persons since their last filing on
Schedule 13D: In November 2016, the Fund purchased 5,620 shares of Stock using its working capital, the aggregate purchase price
for which was $40,679. Except as otherwise noted above, all such transactions were purchases of Shares effected in the open market,
and the purchase price includes commissions paid.

 

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